Point72 Asia Singapore Pte. Ltd. Invests $135,000 in Scorpio Tankers Inc. (NYSE:STNG)

Point72 Asia Singapore Pte. Ltd. bought a new stake in Scorpio Tankers Inc. (NYSE:STNG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,661 shares of the shipping company’s stock, valued at approximately $135,000.

Other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after purchasing an additional 319 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Scorpio Tankers in the first quarter valued at $58,000. Headlands Technologies LLC raised its holdings in shares of Scorpio Tankers by 1,912.2% in the second quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock valued at $80,000 after buying an additional 937 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in Scorpio Tankers by 7,942.9% during the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock worth $92,000 after buying an additional 1,112 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

Shares of STNG opened at $71.63 on Friday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of 6.64, a PEG ratio of 1.94 and a beta of 0.16. Scorpio Tankers Inc. has a 12 month low of $47.88 and a 12 month high of $84.67. The firm has a fifty day simple moving average of $71.66 and a 200 day simple moving average of $74.57. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.08. The business had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. Scorpio Tankers’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.41 earnings per share. Research analysts forecast that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.23%. Scorpio Tankers’s dividend payout ratio is presently 14.84%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Bank of America lowered their price objective on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Stifel Nicolaus raised their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Evercore ISI boosted their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average target price of $88.80.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.